Family Dollar | Low Rent & Price Point | 2256 Alta Dr
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Family Dollar | Low Rent & Price Point 2256 Alta Dr
8,000 SF Retail Building Alderson, WV 24910 $1,398,994 CAD ($175 CAD/SF) 9% Cap Rate
Executive Summary
LOWER RENT & PRICE POINT
• This Family Dollar has a lower rent which equates to a lower price point of under $1M.
NEAR LEWISBURG, WV | COUNTY SEAT
• The subject property is located 12 miles west of Lewisburg off Hwy 63.
• Lewisburg is the county seat of Greenbrier county and benefits from government jobs and growth.
• The WV State Fair is hosted in Lewisburg and had 170,000 visitors in 2022.
• National Retailers in Lewisburg include Lowe’s Home Improvement, Walmart, Kroger, Tractor Supply, and more.
• Home to Greenbrier Valley Medical Center (122 beds) with 450 employees and 200 physicians.
RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2013 and recently extended the lease for an additional 5 years.
• Family Dollar exercised their first option period in April 2023 which extended the lease through March 2028.
• There are 4 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This extension speaks to Family Dollars confidence and dedication to this market & location.
• Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which only include Roof & Structure.
• There are 10% rent increases in each of the remaining four, 5-year option periods.
INVESTMENT GRADE TENANT
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion
• This Family Dollar has a lower rent which equates to a lower price point of under $1M.
NEAR LEWISBURG, WV | COUNTY SEAT
• The subject property is located 12 miles west of Lewisburg off Hwy 63.
• Lewisburg is the county seat of Greenbrier county and benefits from government jobs and growth.
• The WV State Fair is hosted in Lewisburg and had 170,000 visitors in 2022.
• National Retailers in Lewisburg include Lowe’s Home Improvement, Walmart, Kroger, Tractor Supply, and more.
• Home to Greenbrier Valley Medical Center (122 beds) with 450 employees and 200 physicians.
RECENTLY EXTENDED CORPORATE NN LEASE WITH DOLLAR TREE
• This Family Dollar has been operating at this location since 2013 and recently extended the lease for an additional 5 years.
• Family Dollar exercised their first option period in April 2023 which extended the lease through March 2028.
• There are 4 years remaining on a corporate guaranteed NN lease with Dollar Tree.
• This extension speaks to Family Dollars confidence and dedication to this market & location.
• Tenant is responsible for parking lot, taxes, Insurance, HVAC, and Utilities.
• There are limited Landlord responsibilities which only include Roof & Structure.
• There are 10% rent increases in each of the remaining four, 5-year option periods.
INVESTMENT GRADE TENANT
• Dollar Tree/Family Dollar is a publicly traded (NYSE: DLTR) Fortune 500 company with an S&P investment grade credit rating of BBB.
• Dollar Tree/Family Dollar operate 16,340+ stores across 48 states and five Canadian provinces.
• Dollar Tree has been in business for 70 years and has a current net worth of over $33 billion
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,000 SF
Building Class
B
Year Built
2012
Price
$1,398,994 CAD
Price Per SF
$175 CAD
Cap Rate
9%
NOI
$125,909 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Land Acres
1.12 AC
Opportunity Zone
Yes
Frontage
Amenities
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $246,486 CAD | |
| Land Assessment | $97,717 CAD | Total Assessment | $344,202 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$97,717 CAD
Improvements Assessment
$246,486 CAD
Total Assessment
$344,202 CAD
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Family Dollar | Low Rent & Price Point | 2256 Alta Dr
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